Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 39,995 $ 53,330
Adjustments to reconcile net income to cash flows from operations:    
Depreciation and amortization of property, equipment and capitalized software 12,280 11,365
Amortization of intangible assets 23,518 22,405
Amortization of debt issuance costs and debt discount 1,034 649
Deferred income taxes (1,331) (229)
Stock compensation expense 4,403 8,248
Change in assets and liabilities, net of effects of business combinations:    
Accounts receivable (200,749) (14,114)
Prepaid expenses and other current assets 10,624 (5,115)
Deferred contract costs (1,013) (6,811)
Accounts payable and accrued liabilities 3,642 (32,452)
Accrued compensation and benefits (53,271) (56,305)
Deferred revenue 14,764 5,929
Income taxes 9,465 10,321
Operating lease right-of-use assets and liabilities (948) (6,370)
Other assets and liabilities 2,928 6,230
Net cash used in operating activities (134,659) (2,919)
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software (15,697) (6,327)
Net cash used in investing activities (15,697) (6,327)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (17,017) (17,347)
Purchases of Maximus common stock 0 (1,379)
Tax withholding related to RSU vesting (8,475) (9,673)
Payments for contingent consideration (1,415) 0
Proceeds from borrowings 268,702 100,000
Principal payments for debt (61,355) (16,685)
Restricted cash movements (9,473) 0
Net cash provided by financing activities 170,967 54,916
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 2,421 372
Net change in cash, cash equivalents, and restricted cash 23,032 46,042
Cash, cash equivalents and restricted cash, beginning of period 136,795 156,570
Cash, cash equivalents and restricted cash, end of period $ 159,827 $ 202,612